Sec. 1087.202. TAX TO PAY GENERAL OBLIGATION BONDS. (a) At the time general obligation bonds are issued by the district, the board shall impose an ad valorem tax at a rate sufficient to create an interest and sinking fund to pay the principal of and interest on the bonds as the bonds mature.
(b) The tax required by this section together with any other ad valorem tax imposed for the district may not in any year exceed 75 cents on each $100 valuation of all taxable property in the district.
Added by Acts 2013, 83rd Leg., R.S., Ch. 112 (S.B. 1026), Sec. 1.01, eff. April 1, 2015.
Structure Texas Statutes
Special District Local Laws Code
Subtitle A - Hospital Districts
Chapter 1087 - Rankin County Hospital District
Section 1087.201. General Obligation Bonds
Section 1087.202. Tax to Pay General Obligation Bonds
Section 1087.203. General Obligation Bond Election
Section 1087.204. Maturity of General Obligation Bonds
Section 1087.205. Execution of General Obligation Bonds
Section 1087.206. Revenue Bonds
Section 1087.207. Refunding Bonds
Section 1087.208. Additional Means of Securing Repayment of Bonds